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You deposit $400 into an account that pays 2% annual interest compounded quarterly.
Part a: Write an exponential model that describes the situation.
Part b: Determine the value of the account after 5 years. Round to two decimal places.

Respuesta :

a.

A = 400 (1 + (0.02)/4)^4t    where t = number of years and A = amount after t years
simplifying that becomes

A = 400 (1.005)^4t

b  amount after 5 years is

400 (1.005)^(4*5)  = 400 (1.005)^20 =  $ 441.96
Romero1xo

a.

A = 400 (1 + (0.02)/4)^4t    where t = number of years and A = amount after t years

simplifying that becomes

A = 400 (1.005)^4t

b  amount after 5 years is

400 (1.005)^(4*5)  = 400 (1.005)^20 =  $ 441.96

Read more on Brainly.com - https://brainly.com/question/4656068#readmore

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